Gain
Turned $100 into 17k thanks to the orange man 🙌
I bought a ton of weekly far OTM puts on nvda and woke up today with huge profits! I am poor. Like really poor. Live paycheck to paycheck. I've been full bear since 2022. I usually put $100-$200 into the stock market weekly. Finally my full port puts paid off. This is only the beginning. I sold my puts today. Took my profits and bought uvix since options are way overpriced.
This sub has changed man. A comment talking about taxes and responsible investing would’ve have been downvoted to oblivion a few years ago. Now it’s the most upvoted. This is a CASINO
That doesn't mean that you are "Like really poor" though...
I have an income of 600 a month and still don't consider myself "really poor" since I still have the ability to get food.
You have enough you can go big without one big gambit, be degen sure just don’t dunk the whole degen piss jar down in one swallow. Only advice I can give, gl o7
ok but hear me out - if he full ports and lands a 20 bagger, that's 340k. live changing amount of money! if he does it once more, he will be a multi millionaire, and all it takes is two solid SPY reads.
I'm shorting the weekend. See what happens. Might be up or down. Then I can buy short dated call hedges and much longer dated puts on nvda. I think nvda is going back to $40 within a year
NVDA is not going to 40. Please don’t do that lol. Lowest it’ll go is 60-70. If it does go 40 then we must be in a real bad situation but I say it doesn’t happen
I could be wrong but I had a 100% win trading record with UVXY earlier this year, so I like to think I know my way around the leveraged volatility ETFs. And after the last two days, the most likely next move is to the downside. Maybe you'll get lucky and it'll stay flat, but you would have killed buying it 2 days ago, but you could be down 40% by Monday especially if any progress is made on tariffs.
I can sell Monday if shit magically turns bullish. I believe we continue down. Sure, short term we get profit taking and bounces. But in the long term I believe vix continues up. The market isn't bottomed yet imo.
I'm not even saying it has to turn bullish to lose. We just need to stop getting continually worse surprises for the VIX to start ticking down.
I'm not saying we've bottomed, but VIX spikes higher than what we currently have are very rare and short lived.
Even in 2008 it only spiked to like 80 and for a short period.
Many people have the wrong idea of what "living paycheck to paycheck" means. It is not "I did not die between two paychecks while I was partying in Ibiza and investing in stocks".
I swing traded. On Wednesday I bought aapl puts otm before liberation day. On Thursday I was up 4k from $100. Sold aapl puts and bought nvda puts on thursday. All were 4/4 expiration and decently far otm. Wake up Friday morning with 17k in my account. Absolutely flabbergasted. Took me 2 hours to realize it was real life. I immediately sold at 9am. Reinvested.
so you basically full ported your AAPL gains into NVDA far otm puts that expiree the next day... oh buddy, you are sick lol I feel like you have to be 21 just to read this post because that was pure degeneracy
👍yea I'm not homeless. I have a 45k job and eat at taco bell. I'm not broke. Just poor. No saving account. Usually a couple hundred before each payday. If i had a big expense come up I'm fucked. Idk what you call that? Not middle class. I have "fun money". It's not $200 weekly. Some weeks I don't have any and some it's $50. Didnt know we were fact checking my wsb shitpost.
Ignore those fuckwits saying its not 'poor' they're living with the hope that their similar or only slightly better jobs that have no stabllity are rich kings. Your realism triggers people who don't realise they're not middle class because that shit only happens once you're upwards of 150k a year salary depending on where you live
yes but it makes more sense when you realize the purpose of these financial instruments are insurance rather than scratch off tickets. maybe the buyer just needed to buy a $60 put to close out a $60 put they sold same expiration date for much more, that they had sold prior. maybe its a multileg trade and a $60put is just one part of a bigger picture. prolly a market maker trying to balance books like a bookie balances bets idfk. that shits all magic wizard of oz to me.
but yea i guess realizing the insurance aspect makes this whole subreddit even more hilarious when you see people saying shit like i turned $xxx into $xxx,xxx. im def happy for em, some of the bets youll find posted on wsb are absurd. (not talking shit @ op, good for them whatever their trades were.)
Even this guy was all over the place with his strategy, as some other commenters (clearly more experienced with options) were saying he truly belongs here. Or at Wendy's in the future haha.
I do have a story to share soon, my stupid post may make the rounds here😂
You chose the cheap most well known fast food place to bet against in an economic downturn? In 2008 Mcdonalds was up 6% when everything else was down 40%. It was 1 of 2 companies to do so. You bet against the leprechaun in a race to find the end of a rainbow. Not to mention a vast majority of its food supply chain is domestic.
No but the director might be changed to someone more favorable to the regime, no way they're dismantling the IRS when it collects taxes from the poor for them to siphon off.
100 weekly into the market for 2 years is $10k. If you were at 200 for some of those, you’re basically looking at $15k+. So congrats on the win but you are really not up much at all considering your income and amount invested lol. Maybe try other strategies
I’m old. I’m a CFA/cfp. I’m an index guy. Congrats to you. Take some profit from your 2x vix and buy vt. Every time you make a profitable trade park half or a third in vt. For you. I hope you keep making trading profits. But keep DCAing into vt too. Good luck.
This movie is why I dump money gambling on weekly puts for 3 years. Fun when it pays off. The only problem is that I only think this is the beginning. Not the bottom. I got out of weeklys obviously. Moved to 3 month nvda $75
look at the stars, if it makes a line towards the horizon buy puts. otherwise calls. but no matter what, make sure to hold it through all volatility, that's how you land the 1000x baggers.
they're financial derivatives where generally speaking, puts will increase in value the more a stock drops (it's basically insurance because it gives you the right to sell at a certain price) and calls increase in value the more a stock rises (it gives you the right to buy at a certain price, basically a device that lets you go "damn wish I entered back when it was just $90" and actually lets it happen).
Most traders here never actually exercise the right to buy or sell, instead they play hot potato with it by just constantly buying and selling these contracts. For example, if I think SPY will make a move up over the next 5 minutes, all I have to do is buy a call now and sell it in 5 minutes at a higher price if SPY rises. The reason people use these is because it offers insane asymmetric leverage. The downside is they lose value pretty fast as time goes by since all of them have an expiration date.
I got lucky but long story short, look at supports. You need to draw support and resistance lines. There are long term trend lines and when they fail you go to the next support. I zoomed out and looked at nvda. See the peak around $95 on march 22 2024. That's a support.we broke $95 in the after hours. We can hold $95 or drop. Next support around $85 then next support at $75. If it ends up breaking below $75 then imo it's going straight to $40.
Congrats on the big win, man. Keep $1k in investing, put the rest into that bank. Buy yourself something nice, maybe a steak dinner or a new computer if ya need one.
I bought 4/4 puts $90 on monday for NVDA and sold some by opening time on friday and I still didnt see these kind of gains. what was the price you paid for the contract? My avg price was 0.09 but I didnt see it go up to 1.20 or above to get the same kind of gains as you. what am i doing wrong?
Slow clap good buddy. Have you saw the price of your eggs over there. I occasionally smuggle the odd haggis into Yankystan via mail. (Sounds like a joke but it ain't and best is it started as a joke then I found the last laugh when I found out Yankystan is full of plastic people pretending to be Scottish just because their great great great gran came from a village then shacked up with sitting bull). My point to be exact you have 17k of nothing lol. Look at the German economy back in the day they used to carry thousands in cash in wheel barrows. Thousands of fuck all but.
Yankystan is at the very beginning of this. Get that 17 put into something of value that going anywhere soon. Or take the dollar value but if you do atleast cocaine and whores and live a little but don't sit and pretend that 17 is going to give even the most frugal cunt a safety net.
Trust me this is the beginning of the end if you think it’s a good idea to buy VIX when volatility is so high. Take the profits and switch to VOO and chill.
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u/throwaway_0x90 placeholder for a good flair someday 6h ago
OP positions here: